Last week HRM looked at effective rewards programs and how to assess and implement one. But a rewards program is only one way to engage and retain staff.
An employee discount program is another way to show employees that they are valued, and when they can see the tangible savings they’re likely to think twice before leaving.
Venngo, which also operates as WorkPerks is the biggest group discount program in Canada, working with some of the country’s largest organizations including Scotiabank, Telus and Canada Post.
“We provide them with a private corporate branded work perks site that’s exclusive to their employees,” Venngo president Paul Weissman said. “ We work with them very closely to ensure there’s a high level of awareness and employee engagement, and as a result a high level of appreciation to the employers.”
Weissman added that many of his clients have both rewards programs, typically based around collecting and redeeming points, as well as a group discount program, with one complementing the other to improve overall engagement.
The programs are usually geographically specific, so your employees in Montreal see discounts at their local vendors, and those in Vancouver can easily find deals nearby. Employee participation, top activities and total savings are all tracked, with some companies seeing more than 90% engagement in the programs.
“It’s another tool in the HR toolkit,” Weissman said. “Benefits might include health and dental, time off or health club memberships. This is another way to support employees.”